Nearly 10 years have passed since the end of the Great Recession, and the banking industry is still adapting to the regulatory changes put in place to prevent its recurrence. An apprehensive public was vocal in its demands for greater transparency in real estate lending, and the government's response was swift and aggressive; putting highly publicized regulations into place in an attempt to rebuild consumer trust.
December 13, 2018
The Mortgage Bankers Association and MBA Insights are accepting nominations for the MBA Insights 2019 Tech All-Star Awards. Nominations will be accepted through Friday, Jan. 11.
On the eve of reporting expanded Home Mortgage Disclosure Act data, there is justifiable anxiety around these changes and how the new data will be a reflection on each reporting institution. Perhaps the biggest change in the HMDA data is the morphing of the loan purpose (Home Purchase, Refinance, Home Improvement) reporting requirement to the lien-based requirement for consumer transactions. This subtle move is expected to significantly increase the overall number of records that are reported within the industry.
Tom Millon is CEO of Capital Markets Cooperative, Ponte Vedra Beach, Fla., a Computershare company that provides products and services to a nationwide network of more than 500 companies. He is a leading authority on mortgage capital markets and is a published author, frequent speaker and expert on mortgage finance.
In the commercial and multifamily mortgage markets, different capital sources track delinquency rates in different ways, and for a host of good reasons. Many capital sources, including banks, calculate delinquencies up to the point where an economic loss is recorded.
Ruth Sherman, executive speech coach and media trainer, joins mPower Founder Marcia M. Davies to discuss Delivering the Best Speech.
The Mortgage Bankers Association's latest Washington Update features MBA Associate Vice President of Public Affairs Rob Van Raapshorst, who reports on Kathy Kraninger's first week at the Consumer Financial Protection Bureau; and a two-week extension of the National Flood Insurance Program.
ClosingCorp, San Diego, looks at closing costs in America's most festively named towns.
In this MBANow video, James McDuffie, Senior Vice President and Manager of Diverse Lending Sales with First Citizens Bank, Raleigh, N.C., discusses curent industry trends.
Given the challenges entailed by digital change, many banks are looking for quick and less expensive alternatives that can deliver short-term wins while major initiatives are underway. Robotic Process Automation can help bridge this gap as a relatively inexpensive and even temporary alternative, both for customer-facing and middle- and back-office functions.
Kevin Wall is President of First American Mortgage Solutions, Santa Ana, Calif., a provider of data and technology offerings covering the entire residential loan spectrum, including 100 percent coverage of U.S. property ownership data, fraud and verifications, regulatory compliance, valuations, fulfillment services, quality control, title and settlement, post-closing document management, home equity and default services.
Reputation risk is one of the factors of risk that is easy to understand but tough to quantify. The Federal Financial Institutions Examination Council states, "Reputation risk occurs when negative publicity regarding an institution's business practices leads to a loss of revenue or litigation."
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